When you take out a standard non-recourse loan, you agree to pay it back in a certain amount of time, usually measured in years. You make monthly payments, including interest and principal, until you pay the loan back. While pre-settlement legal funding is essentially a non-recourse loan, how long you have to repay it depends on your personal injury case.
You see, pre-settlement legal funding with High Rise Financial is not tied to your financial situation, your credit history, or your debt to income ratio. It is tied to your personal injury case and your eventual settlement or jury award. Let’s explain the benefits of this scenario.
Benefits of Pre-Settlement Legal Funding
Pre-settlement legal funding is a NO-RISK source of funding while you wait for a settlement or jury award in your personal injury lawsuit. We understand that victims in personal injury cases may have financial struggles. This can be due to lots of medical bills, loss of work due to your injuries, and more. That’s where we can help. Pre-settlement legal funding with High Rise Financial truly is risk-free. That’s because:
- You don’t pay a loan application fee.
- We don’t do a credit check.
- Once you’re approved, you don’t make monthly payments.
- You don’t have to pay interest on the legal funding amount.
- You don’t have to pay us back if you lose your case.
None of the standard loan rules and payments apply to legal funding. That’s because the money we loan you is not tied to your financial situation — it is directly linked to your settlement. As long as you have an active personal injury lawsuit and you have a lawyer representing you, you can apply.
Sound good? Just fill out the form on the Apply Now page or call our offices at (866) 407-6404 with questions.
The Application Process
When you apply, as we mentioned above, we won’t delve into your personal finances. But we will ask you detailed questions about your personal injury case. Your lawyer can help you provide complete answers. These questions will involve information about:
- The type and extent of your injuries
- Whether you can recover from them, or if they are permanent (loss of limb, paralysis)
- Any property damages
- Details of how your injuries occurred
- Who you are suing (an individual, company, government entity)
- Your expected settlement
- If you are seeking punitive damages
Once our underwriters have all of the information they need, they will determine if we can offer you legal funding. If the answer is yes, then they will use the specifics of your case, legal precedent, and mathematical formulas to determine how much you might win in compensation. Based on that figure, they will determine how much legal funding we can provide.
You are eligible for up to $250,000 in legal funding. How much you receive will be based on your individual case. If you accept our offer, you and your lawyer will sign an agreement that says you will pay us back the full amount of the legal funding, plus a one-time finance fee. Again, the legal funding loan will NOT accrue interest.
Once all documents are signed, we can generally have the funds in your account within 24-48 hours. Once the money is in your account, it is yours to spend as you wish.
The Repayment Process
As we stated previously, you will NOT need to make monthly payments. You don’t repay us until you win your case. That could be in six months, or it could be years, depending on if the other side tries to drag the case out.
When you win your case, your lawyer will get a settlement check from the opposing party. They will then write a check to High Rise Financial for the agreed-upon repayment amount. After deducting legal fees, the rest of the money in the compensation package goes to you.
If You Lose Your Case
Here’s the beauty of non-recourse legal funding. If you lose your case, you don’t pay us a penny. Now, most of the clients we provide legal funding to go on to win their cases, but we take the risk that you might lose your case and not be able to pay us back.
So you do not need to worry about a collections agency coming after you, or anything of that sort. Pre-settlement legal funding really is risk-free.
Get Your Pre-Settlement Legal Funding Fast
Applying for pre-settlement legal funding is easy. As long as you are in the middle of a personal injury case and you have a lawyer representing you, you qualify to apply. Once you’re approved, High Rise Financial will transfer the funds to your bank account within 24-48 hours. It’s free to apply and remember, if you lose your case, you don’t have to pay us back.
Apply today by filling out the form on our Apply Now page, or call us 24/7 at (866) 407-6404, for help starting your application, or to answer any questions you may have.